Verdict – Short-term neutral, oversold currently.
DCE iron ore January created new low from March 24th. Hourly MACD flattened. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI entered neutral area from bearish area. If an effective breakthrough on 845.0 would indicate a fast rebound to approach 874.5 area.
The first support is 814.5, the first resistance is 845.0
